Sterling Investment Management LLC Has $1.27 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Sterling Investment Management LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,819 shares of the financial services provider’s stock after selling 550 shares during the period. Sterling Investment Management LLC’s holdings in Wells Fargo & Company were worth $1,271,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares during the last quarter. Studio Investment Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the 1st quarter valued at about $28,000. Finally, Baystate Wealth Management LLC boosted its stake in Wells Fargo & Company by 53.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 278 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

WFC stock opened at $57.61 on Thursday. Wells Fargo & Company has a 1 year low of $36.27 and a 1 year high of $58.44. The company has a market cap of $203.96 billion, a P/E ratio of 11.95, a PEG ratio of 1.18 and a beta of 1.19. The firm has a 50-day moving average of $52.78 and a 200 day moving average of $46.94. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. During the same period in the prior year, the business posted $0.67 EPS. Wells Fargo & Company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WFC shares. Morgan Stanley boosted their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a report on Thursday, January 18th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Finally, Compass Point lifted their price target on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Twelve investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.31.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.